Bitauto Holdings (NYSE:BITA) Rating Downgrade

Bitauto Holdings (NYSE:BITA) was downgraded by expert analysts at CLSA from Buy rating to Outperform rating in an analyst report issued to clients on 10 January.

Despite the stock downgrade NYSE:BITA is now trading 6.14% higher at $30.96 as of 2:05 PM New York time. Bitauto Holdings shares have [From2] 0% in the past 200 days, while the S&P 500 Index has increased 6.00% in the same time.

According to data compiled by Thomson Reuters, Bitauto Holdings (NYSE:BITA)’s stock is covered by 10 equity analysts across the Street, with 0 analysts giving it a Sell rating, 7 a Buy rating, while 4 consider it a Hold. The 12-month consensus target price for the stock is $33.11, which reflects an upside potential of 6.94% over the current price.

Bitauto Holdings (NYSE:BITA) Profile

Bitauto Holdings Limited is a provider of Internet content and marketing services for China’s automotive industry. The Company’s bitauto.com and taoche.com Websites provide consumers with information on new and used automobile pricing, and promotional information, specifications, reviews and consumer feedback. The Company operates through three segments: advertising business, EP platform business and digital marketing solutions business.

Bitauto Holdings (NYSE:BITA) traded up 6.14% on 10 January, hitting $30.96. A total of 1.24 million shares of the company’s stock traded hands. This is down from average of 1.94 million shares. Bitauto Holdings has a 52 week low of $16.56 and a 52 week high of $54.42. The company has a market cap of $2.22 billion and a P/E ratio of 0.

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